Vegas is an independent oil and gas company with an impressive track record of growth based on exploration success. Vegas began its involvement in the oil and gas business in Egypt, in 1990 through Kriti Oil & Gas, an affiliate company. Since that time, Vegas has developed the business by acquiring additional exploration concessions in Egypt via licensing rounds. Vegas has drilled some 75 wells as operator of which 24 have been exploration wells and the remainder appraisal and development wells. A total of 14 discoveries have been made resulting in 10 different development leases. This success has yielded a total 2P reserves base of 445 million barrels oil equivalent. The 2013 exit production rates were 15,340 barrels per day liquids and 71.3 million standard cubic feet per day gas. The company now holds operated interest in one onshore exploration concession in the Arab Republic of Egypt.
Sector: Oil & Energy
Year Established: 1990